The Government decided to re-open the enrollment for Goods and Services Tax Network (GSTN) on June 1, enabling the central excise and service taxpayers who lagged behind in the first phase of enrollment to register with the GST regime. The tax payers would need to expedite enrollment in the upcoming 15-day window.
The first phase of registration was completed on April 30. Reportedly, only 26 per cent or 14,486 taxpayers out of total 55,830 taxpayers with validated Permanent Account Number (PAN) have activated their user profiles as on April 30.
Service taxpayers are also lagging in their enrollment for GST, with enrollment data of GSTN showing that out of total 11.56 lakh service taxpayers with validated PAN, only 47.27 per cent or 5.46 lakh taxpayers have activated their user profiles as on April 30, when the enrollment window was closed after several extensions of deadlines.
Tax department and GSTN officials say that many taxpayers would be below GST’s exemption threshold of annual turnover of Rs 20 lakh, but they would be able to estimate the number of exempted taxpayers only after the 15-day enrollment window comes to a close.
The whole economy is awaiting the roll out of the proposed Goods and Services Act from July 2017 onwards. GST is considered as one of the most important indirect tax reform in the history of Indian taxation.
The last meeting of the GST Council had approved nine draft rules and rate of tax fixed for goods and services.
